Cleveland Hopkins International Airport (CLE) finalized a new use and land agreement (ULA) with its tenant airlines as it commences a multiyear expansion program expected to ultimately include the building of a new passenger terminal.
The eight-year ULA outlines gate and facility allocations as well as airline tenant costs at the northeast Ohio airport, and is seen as key to CLE moving forward with the financing and construction of new structures. The expansion was initiated earlier this month with the start of construction on a new automobile parking lot with 1,600 spaces.
The new lot, expected to be completed by 2029, will allow for the demolition of an existing lot where the new terminal is expected to be built.
Airlines have already approved more than $475 million in financing for the first phase of the expansion program encompassing the new lot and a number of other landside projects. Also planned is an automobile parking garage with at least 4,000 spaces and a ground transportation center.
Further financing will be needed to build the terminal, which is targeted to open in 2032.
CLE said the ULA “will be especially important as we move forward with major landside improvements” that are part of the expansion program.
The ULA, retroactive to Jan. 1, was signed by American Airlines, Delta Air Lines, FedEx, Frontier Airlines, JetBlue Airways, Southwest Airlines, United Airlines and UPS.
CLE, which handles about 10 million passengers annually, is not dominated by any carrier. United has a leading passenger market share, holding a 23.5% share for the year ended April 30, according to the U.S. Bureau of Transportation Statistics (BTS).
Frontier follows at 21.1%, with Southwest at 13.4%, American at 11% and Delta at 9.6%, according to BTS.
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